After the announcement of the rescue plan of the Franco-Belgian bank Dexia, the rating agency Standard & Poor's has confirmed the AAA rating on France's sovereign debt, with stable outlook, and that of Belgium AA+with negative prospects.
According to the plan, Belgium will buy Dexia Bank Belgium for 4 billion euro. Dexia will also receive state guarantees of up to 90 billion euros to secure their funding over the next ten years. Belgium will provide 60,5% of these guarantees, France 36,5% and Luxembourg 3%.
